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20130819
20130819
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KNTV (NBC) 1
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NBC
Aug 19, 2013 12:30am PDT
twice research and reuters and the atlantic, good did see you, thanks for joining us. what a week, triple-digit losses, a couple of rough days. biggest sell-off in the market since june. do you think this is the beginning of a correction a lot of people have been calling for, or a buying tunlts? >> no, it's part of the typical fed policy normalization-related corrections that have taken place, basically after every recession and then recovery rally that has occurred since world war ii. you have had a long period of stocks advancing and the fed easing then the fed finally decides as the economy gets better it's time to normalize policy. look, our broad theme is that we think the economy is getting better. and we've reaches a real reflection point. uncertainty has boosted capital investments, labor investments, so things are generally getting better. but the market discounted that. up 20% year to date. >> we are up double digits this year. everyone's talking about the federal reserve and when the fed is going to start lowering that stimulus, winding down, beginning to wind down the
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